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The original equipment manufacturer had the part in stock and will ship it out immediately, however the building supplies company nonetheless misplaced a full 24 hours of manufacturing time whereas it was being shipped in a single day. The lack of manufacturing time through the 24 hours value them approximately 1 / 4 of 1,000,000 dollars. Periodically review all spare components classifications (i.e. critical and non-critical) since the classification of an element might change over time, primarily based on replacements/substitutes which will become available. A regular review of spares for excess inventory might help to reduce cost too. Most corporations are reluctant to take care ofÂ a comprehensive spare part inventory as a result of they fear that stocking property like spares is counterintuitive when … Read More